Toss, NICEabc Sign Agreement to Expand Credit Loan Access for Borrowers with Low to Mid-Range Credit Scores

Establish cooperation framework for personal credit loans for borrowers with low to mid-range credit scores
Bring NICEabc product to the Toss platform
Connect borrowers with a range of financial products and broaden their choices

Toss said on October 29 that it will work with NICE Business Platform, which operates the NICEabc online investment-linked finance platform, to strengthen inclusive finance for borrowers with low to mid-range credit scores.

At Toss’s Sinnonhyeon office in Seocho-gu, Seoul, on the 28th, NICE Business Platform CEO Choi Junghwan and Toss Vice President of Financial Business Shin Hyunho pose for a commemorative photo, from left. Toss

Senior officials from both companies attended the agreement ceremony held the previous day at Toss's Sinnonhyeon office in Seocho-gu, Seoul, including Shin Hyunho, Vice President of Toss's Financial Business Division, and Choi Jeonghwan, CEO of NICEabc. The companies agreed to jointly develop and offer products so that borrowers with low to mid-range credit scores, who have faced barriers to financial services due to limited credit or income information, can access funds more easily.

Under the agreement, NICEabc plans to launch a personal credit loan product currently in development on the Toss platform in the first quarter of 2027. Toss will establish a framework for cooperation to support borrowers with low to mid-range credit scores and help more people seeking financial services find products suited to their credit profiles and circumstances.

Toss has expanded access to an environment where users can compare and choose from a range of products offered by various financial institutions in one place. This partnership is significant because it will connect borrowers with low to mid-range credit scores, who have had limited financial options, with new loan products, broadening the choices available to people seeking financial services.

NICEabc has supported small and medium-sized enterprises in securing financing through corporate supply chain finance services, including accounts receivable securitization and electronic bill discounting. With this agreement, it will expand its business into personal finance. The companies plan to continue working together to improve access to financial services, starting with this partnership.

A Toss representative said, "Borrowers with low to mid-range credit scores often find it difficult to access suitable financial products, even when they have the ability to repay. Through this partnership, we will broaden the range of loan products available to them and extend the benefits of inclusive finance to more people seeking financial services."

This content was produced with the assistance of AI translation services.